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Secured Personal Loans Fees & Interest Rates

Risk related rate of Interest

  • The interest rate charged to the customer is based on the customer profile, credit bureau score, property type, market competition offerings, etc.
  • The interest rate applicable will vary from time to time and will be mentioned against the specific operative schemes/loan products

Mode of Calculation

  • The interest rate will be quoted on an annualized basis only.
  • Compounding, if any, will be provided in specific loan schemes.

Penal/Overdue Interest

  • 3% per month on overdue amount for actual days of due
  • Cheque bounce charges
    Rs.500/- (for first instance)
    Rs.750/- (for second instance)
    Rs.1000/- (from third instance onwards)
    Bounce charges will be added along with the next instalment. Bounce charges include GST
Customized Interest Rates 12 to 27%
Processing Fees 1.5 – 2 %
Loan Tenure up to 20 years
Pre/ Part Payment Charges Part prepayment up to 25% of the Loan Amount can be made in a Financial Year. Part prepayment in excess of this limit will be subject to pre-payment charge of 3% of the loan amount prepaid plus Applicable Taxes
Fore-Closure Charge 3% of Principal Outstanding +Applicable Taxes (only after payment of 3 EMIs)
Loan Amount ₹ 50,000 – ₹ 50 lakh
Instalments Flexible Monthly